Accounts - Principles of Accounts Past Questions and Answers

Prof. Bush had two accounts with Olive Brother agreed to have only one balance outstanding. By which of the following methods could this be effected?

Prof. Bush had two accounts with Olive Brother agreed to have only one balance outstanding. By which of the following methods could this be effected?

A trial balance is a proof of

Which of the following is not true of revenue expenditure? i. It is incurred in one period of account. ii. its full benefits are consumed in the period incurred. iii. it includes items for replacement and repairs iv. it does not include depreciation

Which of the following does not belong to the group?